Saxo Bank Registers 5% Monthly Drop in Forex Trading Volume for Jan. 2023

Saxo Bank, a Copenhagen-based retail FX and CFDs broker, has released its trading metrics for January 2023, unveiling that its total trading volume stood at $375.6 billion, declining 9.6 percent compared to the prior month and approximately 14.3 percent from the first month of 2022.

Regarding Forex instruments, the monthly figure was $115.2 billion, showing a dip of 5 percent from the previous month. However, the figure increased by more than 6 percent over the last same period. The daily average volume of Forex instruments dropped from December's $5.5 billion to $5.2 billion.

The volume for equities instruments in January was $219.7 billion, down over 14 percent month-over-month. The figure also dipped about 25 percent on a yearly basis.

During this period, the demand for commodities instruments grew slightly from the prior month's $30.8 billion to $32.8 billion. While the demand for fixed-income instruments remained flat, at $7.9 billion.

Last month, Fazzaco reported that Saxo Bank's total trading volume for December 2022​ came in $415.7 billion, decreasing 9.3 percent on a month-to-month basis. Total Forex trading volume for the month was $121.3 billion, a month-over-month drop of 12.1 percent compared to the previous month's $138 billion.